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Determine prepare the adjusting entry at december

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Reference no: EM132484998

The Following unadjusted accounts are taken from the records of Brown Corp. at December 31, 2019:

Bank Loan 201               Interest Expense 632

12,000                           200

Interest Payable 222

100

Additional Information: The bank loan bears interest at 6% per year. It was obtained on April 1, 2019. Payment in full is due on March 31, 2020.

Question 1: Prepare the adjusting entry at December 31, 2019.

Reference no: EM132484998

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